You deposit 6000 In an account that pays 5.25% interest compounded semiannually. After 10 years, the interest rate is increased to 5.4% compounded quarterly. What will be the value of the account after 18 years?

Question

anonymous · Answer

is this a situation where you'd use I = prt ?

anonymous · Answer

Use the formula A=P(1+ r/n)^(nt)

P=principal
r= rate of interest as a decimal
n= number of times compounded in a year
t= number of years

anonymous · Answer

multipy 6000 * 5.25+5.4 * 18

anonymous · Answer

5.25+5.4=10.65
6000* 10.65 * 18 and you'll get your answer
now can I have a fan or a medal?

anonymous · Answer

@Starr_DynastyT  help openstudy might be down because I can't get anyone's questions so I can't help anyone and it's killing me